Charles River Laboratories International, Inc. (NYSE:CRL) Given Average Rating of “Reduce” by Analysts

Shares of Charles River Laboratories International, Inc. (NYSE:CRL) have earned a consensus rating of “Reduce” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $214.38.

A number of equities analysts have recently commented on CRL shares. Bank of America lowered Charles River Laboratories International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $215.00 in a research note on Wednesday, October 2nd. Citigroup lowered Charles River Laboratories International from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $215.00 to $175.00 in a research note on Tuesday, October 1st. Redburn Atlantic started coverage on Charles River Laboratories International in a research note on Monday, October 14th. They issued a “sell” rating and a $151.00 price objective on the stock. StockNews.com lowered Charles River Laboratories International from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays dropped their price objective on Charles River Laboratories International from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th.

Charles River Laboratories International Stock Performance

Shares of Charles River Laboratories International stock opened at $199.59 on Friday. The stock has a market cap of $10.21 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 5.19 and a beta of 1.38. The business has a fifty day simple moving average of $194.64 and a 200-day simple moving average of $205.19. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.61. Charles River Laboratories International has a 12 month low of $176.48 and a 12 month high of $275.00.

Charles River Laboratories International (NYSE:CRL) last released its quarterly earnings data on Wednesday, November 6th. The medical research company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.16. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $975.99 million. Charles River Laboratories International had a return on equity of 14.29% and a net margin of 10.44%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.72 earnings per share. On average, sell-side analysts anticipate that Charles River Laboratories International will post 10.19 EPS for the current fiscal year.

Charles River Laboratories International announced that its board has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Charles River Laboratories International

In other Charles River Laboratories International news, Director Richard F. Wallman sold 6,621 shares of Charles River Laboratories International stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $216.12, for a total transaction of $1,430,930.52. Following the sale, the director now directly owns 12,386 shares of the company’s stock, valued at approximately $2,676,862.32. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Charles River Laboratories International

A number of institutional investors have recently added to or reduced their stakes in CRL. Wellington Management Group LLP boosted its holdings in shares of Charles River Laboratories International by 135,927.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,740,768 shares of the medical research company’s stock worth $736,819,000 after acquiring an additional 3,738,018 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Charles River Laboratories International by 40.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,760,781 shares of the medical research company’s stock worth $346,821,000 after buying an additional 509,163 shares in the last quarter. Marshall Wace LLP lifted its holdings in Charles River Laboratories International by 24.6% during the 2nd quarter. Marshall Wace LLP now owns 825,905 shares of the medical research company’s stock worth $170,615,000 after buying an additional 163,056 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Charles River Laboratories International during the 2nd quarter worth $33,053,000. Finally, Earnest Partners LLC raised its position in shares of Charles River Laboratories International by 12.4% during the 2nd quarter. Earnest Partners LLC now owns 1,004,486 shares of the medical research company’s stock valued at $207,507,000 after acquiring an additional 110,725 shares during the last quarter. 98.91% of the stock is owned by institutional investors and hedge funds.

Charles River Laboratories International Company Profile

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).